North Carolina got another significant kudo this week, coming in third best in Chief Executive magazine's fourth annual "Best and Worst States" survey.
North Carolina was topped in the ranking only by Texas and Nevada, neither of which has a state income tax. California and Massachusetts, the only states with more biotechnology companies than North Carolina, were ranked as some of the worst states for doing business — 51st and 48th this year.
The survey of 605 top business execs, conducted early this month, asked respondents to evaluate their states on workforce quality, proximity to resources, regulation, tax policies, education, quality of living, infrastructure and other salient factors.
CEOs were also asked to grade every state and the District of Columbia based taxation and regulation, workforce quality and living environment.
"Overall, the message CEOs are sending is that over-taxed and over-regulated states are not conducive to the health of their businesses," said Ed Kopko, CEO and publisher, Chief Executive Group. "This is the message they've been communicating since our poll started in 2005. However, in states like California and New York, where we are increasingly facing a shrinking population, the message seems to have fallen on deaf ears, as CEOs continue to be extremely frustrated with the business-unfriendly practices in these states."